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Alpaca raises $135 million to expand into prime brokerage

Alpaca raises $135 million to expand into prime brokerage

Brokerage API provider says the funding will support prime brokerage, tokenized-equity infrastructure and AI-focused trading tools as tokenized real-world assets continue gaining traction.

Fact Check
The official Business Wire press release (via Las Vegas Sun) and Bloomberg both confirm the exact $135M equity / $300M debt / $435M total structure, the prime brokerage expansion, and Alpaca's roles in tokenization and AI-native financial services. Crypto Briefing independently corroborates. All key figures and framing in the claim align precisely with the primary sources.
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Summary

Alpaca said it raised $135 million in an equity round led by Peak XV, with participation from Elefund, BNP Paribas’ Opera Tech Ventures and Unbound, to expand its prime brokerage, tokenized-equity rails and what it describes as agent-first trading infrastructure. The round closed on July 16, 2026 and follows a $150 million Series D in January that valued the company at $1.15 billion. Debt financing, primarily from Kraken parent Payward and BMO, brought the total package to $435 million. The announcement came as tokenized real-world assets, or RWAs, reached a reported $34.9 billion in on-chain market capitalization and 1.077 million holders, underscoring broader momentum in blockchain-based representations of traditional financial assets.

Terms & Concepts
  • tokenized U.S. equities: Blockchain-based tokens that represent exposure to or claims linked to U.S. stocks held in traditional market infrastructure.
  • prime brokerage: A suite of services for professional market participants that can include custody, clearing, financing and trade support.
  • RWA: Real-world assets tokenized on blockchain.